Rio Tinto to Shed Some Energy Assets

Rio Tinto PLC has put on the block stakes in several Australian thermal-coal mines, divestitures that could fetch around US$3 billion, people familiar with the matter said Wednesday.

In the biggest deal, Rio Tinto is seeking a buyer for up to 29% of its Coal & Allied unit as it moves to cut costs and boost shareholder returns. The mining company wants to reduce its interest in Coal & Allied, which owns mines in eastern...